Mortgage Forum

Joel Fraser

Hello and I just wanted to say how happy I am to have found this site. Everyone seems to be genuinely kind and helpful and it is so refreshing when dealing with such a stressful situation.Here's my story:We bought our first home using two loans from Wells Fargo. I lost my job a couple months ago and we have fallen two months behind on the first mortgage and are about to fall one month behind on the second. I have submitted paperwork to the loss mitigation dept and the last time I spoke with them I was told to call every 10 days to see the status of my request. Today is the 10th day so I will be calling at some point today.Any advice on what I should be asking for or not accepting from them? I am of course looking for a new job and am 99% sure I will be offered one that starts in early June. Of course you have to wait 4 weeks to get paid so I don't see how we will be able to make any payments before the 1st loan goes 3 months past due. The 1st loan is due to accelerate June 2 (not even sure what that means -- does that mean my name will be in the paper?) and of course I have heard that Wells Fargo is notorious for not dealing well with their customers.TIA for any help you can provide.p.s. -- The first loan is an ARM and is due to reset in August, so even once we pass this first hurdle we will have to deal with a new and probably unmanageable payment, so I would need to work something out with them as well. Hopeless?